1,122 homes sold in February in the Charleston region at a median price of $257,500 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). Last February, 1,276 homes sold at a median price of $240,750. This reflects a 12% decrease in sales volume as compared to last February’s data and a 7% rise in median sale price. Year-to-date, 2,237 homes have sold in the region at a median price of 257,580; in 2017, 2,309 homes had sold at a median price of $240,000—a 3% decline in sales and 7.3% increase in median price when compared to 2017 data.

Inventory has declined by nearly 11% over the last 12-month period, with 4,917 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of February.

“We were a bit surprised by the surge of sales last month, particularly with such low inventory at the beginning of the year. This month’s activity was what we expect—very similar to market activity last fall” said 2018 CTAR President Kimberly Lease. “We expect this year to follow a more gradual pace of growth, particularly on the sales side of the market” she concluded.

January AdjustmentPreliminary data showed 1,112 homes sold in January in the Charleston region at a median price of $258,000. Updated data now shows 1,115 sales at the same median price.
Berkeley County

304 homes sold at a median price of $189,972 in Berkeley County in February, 262 single-family homes and 42 Condos/townhomes. Single-family home sales have declined by about 5% in the County, as median home price has increased by about half a percent in the last year, to $231,045. Condo and townhome sales increased by about 3% as median price increased 11% to $155,000.

There are currently 967 residential properties for sale in Berkeley County—862 single-family homes and 105 condos/townhomes.

Charleston County

536 homes sold at a median price of $301,594 in Charleston County in February, 425 single-family homes and 111 Condos/townhomes. Single-family home sales have increased by just under half a percent in the County, as median home price has increased by about 10% in the last year, to $372,470. Condo and townhome sales declined by 19% as median price increased 2% to $229,000.

There are currently 2,673 residential properties for sale in Charleston County—2,028 single-family homes and 596 condos/townhomes.

Dorchester County

212 homes sold at a median price of $189,964 in Dorchester County in February, 189 single-family homes and 23 Condos/townhomes. Single-family home sales have decreased by just under 1% in the County, as median home price has increased by about 7% in the last year, to $227,228. Condos and townhome sales declined by 6% as median price increased 11% to $152,700.

There are currently 686 residential properties for sale in Dorchester County—645 single-family homes and 41 condos/townhomes.

]]>http://www.charlestonrealtors.com/february-market-update/feed/0Charleston Realtors® Delegation Dayhttp://www.charlestonrealtors.com/delegationday/
http://www.charlestonrealtors.com/delegationday/#respondFri, 09 Mar 2018 12:52:08 +0000http://www.charlestonrealtors.com/?p=6997Continue reading →]]>Join us on April 11 as we travel to Columbia to meet with our legislators and discuss the issues facing Realtors in their everyday business.

There will be a briefing breakfast held at CTAR beginning at 7:30 am so we can be properly prepared to speak with our legislators, including a briefing on bills currently at the Statehouse that need our attention. We will travel to Columbia and at 11 am, visit our representatives’ offices and then visit the Statehouse. We will conclude our day with lunch with SCR representatives at the Capitol City Club.

If there is enough interest, CTAR will provide transportation. This event is free to attend.

]]>http://www.charlestonrealtors.com/delegationday/feed/0SOLD OUT: Lunch and Legislation with Congressman Sanfordhttp://www.charlestonrealtors.com/lunch-and-legislation-with-congressman-sanford/
http://www.charlestonrealtors.com/lunch-and-legislation-with-congressman-sanford/#respondThu, 08 Mar 2018 19:01:00 +0000http://www.charlestonrealtors.com/?p=8168Continue reading →]]>Join us on Friday, March 23 from 1-2 pm for a listening session with Congressman Mark Sanford, who represents South Carolina’s First District, at the CTAR Offices.

Enjoy lunch and a conversation with the Congressman about issues affecting Realtors in the Charleston region.

Major RPAC donors are invited to a special meet and greet with the Congressman at 12:30 pm in the CTAR Boardroom, prior to the lunch.

The event is free to attend, but registration is required. THIS EVENT HAS SOLD OUT.

]]>http://www.charlestonrealtors.com/lunch-and-legislation-with-congressman-sanford/feed/0Cocktails for Community at EO Brewing Company!http://www.charlestonrealtors.com/8151-2/
http://www.charlestonrealtors.com/8151-2/#respondWed, 07 Mar 2018 14:13:58 +0000http://www.charlestonrealtors.com/?p=8151Continue reading →]]>
Join us for the Charleston Trident Association of Realtors Spring Cocktails for Community at Edmund’s Oast Brewing Company!

Admission is free for all CTAR members and $15 for Guests/Non-Members.

Complimentary appetizers will be provided and drinks will be available to purchase.

As always, we’ll enjoy networking time with the best of Charleston’s real estate community and have the chance to win some great raffle prizes while supporting the Realtors Housing Opportunities Fund (RHOF).

Since 2003, the Realtors® Housing Opportunities Fund (RHOF) has dedicated itself to assisting in the development, maintenance, or repair of housing for those in need, through its endowed fund and grant distributions to Lowcountry organizations committed to the development and rehabilitation of affordable housing. RHOF was founded in 2003 to address the growing need for affordable and safe housing for Lowcountry residents in need. The Fund is administered by the Coastal Community Foundation and since its inception, RHOF has provided nearly $1 million in funding to Lowcountry nonprofits.

]]>http://www.charlestonrealtors.com/8151-2/feed/0Take Action: Mt. Pleasant Tree Ordinancehttp://www.charlestonrealtors.com/take-action-mt-pleasant-tree-ordinance/
http://www.charlestonrealtors.com/take-action-mt-pleasant-tree-ordinance/#respondTue, 13 Feb 2018 19:40:47 +0000http://www.charlestonrealtors.com/?p=8123Continue reading →]]>Mount Pleasant is pushing a tree ordinance that will protect the pine tree. The pine is actually a hazardous tree and can be very dangerous in high winds.

Additionally, the ordinance proposes:

Retain a minimum of 160 inches per “developable acre” of protected trees (16 inches and greater) on new Residential Subdivisions where it exists; where it does not exist (where land is cleared/redevelopment), must plant up to 160 inches/acre.This means that per residential acre, new developments are required to keep or plant protected trees equaling 160”, so ten 16” trees per acre, which could not leave much room for building, depending on the location of the trees.

Increase the Critical Line Buffer (currently ranges in width from 15 feet to 35 feet) to 50 feet.

Please reach out to council and planning commission members (listed below) to let them know of the devastating impacts this ordinance would have—they are proposing a requirement.

Questions about this ordinance or other legislative issues? Contact Josh Dix, Government Affairs Director

]]>http://www.charlestonrealtors.com/take-action-mt-pleasant-tree-ordinance/feed/0Job Opening: PT Book Keeping Assistanthttp://www.charlestonrealtors.com/job-opening-pt-book-keeping-assistant/
http://www.charlestonrealtors.com/job-opening-pt-book-keeping-assistant/#respondTue, 13 Feb 2018 17:41:55 +0000http://www.charlestonrealtors.com/?p=8120Continue reading →]]>The Charleston Trident Association of Realtors® (CTAR) is a membership organization looking for a liaison between bookkeeping and our members. This is a part-time position that will require 20 – 25 hours per week. The primary focus is to assist members with billing questions and administer accounts receivable & accounts payable.

1,112 homes sold in January in the Charleston region at a median price of $258,000 according to preliminary data released today by the Charleston Trident Association of Realtors® (CTAR). In January 2017, 1,033 homes sold at a median price of $239,900. This data reflects a 7.5% increase in both sales volume and median sale price.

Inventory has declined by 13% over the last 12-month period, with 4,692 homes listed as “active” for sale in the Charleston Trident Multiple Listing Service (CTMLS) at the end of January.

“We are now several years into a period of rising prices and low inventory. This market can be a real challenge for buyers but we are seeing a bit of a shift as buyers become more selective, even with the low inventory, concerned about inflated prices. However, the months supply of inventory continues to shrink, down almost 17% since this time last year, which is an indicator that demand is still increasing relative to supply. We expect to see wages rise some this year in the state, which may help some people as they wrestle with the climbing prices, but median prices are currently appreciating at about twice the rate we expect to see wages grow” said 2018 CTAR President, Kimberly Lease. “Our regional market leveled off in the last quarter of 2017, but this is significant growth to see at the beginning of the year—particularly during a month that included a week of unprecedented snow days. That didn’t seem to slow things down at all” she concluded.

Berkeley County
293 homes sold at a median price of $215,750 in Berkeley County in January, 261 single-family homes and 32 Condos/townhomes. Single-family home sales have increased by 1.6% in the County, as median home price has increased by about 4% in the last year, to $235,000. Condos and townhome sales declined by about 13.5% as median price increased 31% to $196,500. There are currently 960 residential properties for sale in Berkeley County—840 single-family homes and 120 condos/townhomes.

Charleston County
555 homes sold at a median price of $302,600 in Charleston County in January, 425 single-family homes and 130 Condos/townhomes. Single-family home sales have increased by 15.2% in the County, as median home price has increased by about 10.4% in the last year, to $379,700. Condos and townhome sales increased by less than 1% as median price increased 2.5% to $225,500. There are currently 2,504 residential properties for sale in Charleston County—1,908 single-family homes and 596 condos/townhomes.

Dorchester County
201 homes sold at a median price of $191,096 in Dorchester County in January, 178 single-family homes and 23 Condos/townhomes. Single-family home sales have increased by 9% in the County, as median home price has increased by about 4.6% in the last year, to $222,692. Condos and townhome sales increased by 4.5% as median price increased 9% to $159,500. There are currently 659 residential properties for sale in Dorchester County—616 single-family homes and 43 condos/townhomes.

The Realtors® of Distinction award recognizes the top 10% of producing Charleston Realtors® with 1 or more transactions who apply for the award, complete additional education requirements in the award year and adhere to the Realtor® Code of Ethics.

The deadline to apply was January 18, 2018. No late entries are being accepted and no exceptions will be made to the deadline.

LUNCHEON TICKETS

The luncheon honoring the 2017 Realtors of Distinction will be held on April 24, 2018 from 11:30am-1pm at Trident Technical College, north campus.

Members may apply for only one award category (Residential, Commercial, Rookie, Property Manager, or Team).

2017 Education Requirements

12 hours of education completed in 2017

These may be CE courses, lunch and learns, office seminars, webinars, professional development presentations, and/or educational conferences, Code Pros, MLS classes, or other professional developement courses. All courses must be at least one hour.

*Definition of a Team:A team is 2 or more licensed producing sales associates who combine sales for award or commission sharing in any fashion. Independent contractors employed by a team in non-selling/non-listing activities are not counted as a member of the team. A team may apply as a team OR as individuals, but not both. If a team chooses to apply as individuals the team production is divided by the number on the team and that is the number each member may claim. Or, we will use the amount shown on the Flex Residential Sales Report under each individual team member’s name as of Dec. 31, 2017.

ADDITIONAL INFORMATION

Individual Residential Award applicants must use the Flex Residential Sales Production Report plus a list of any additional transactions not under your name in the MLS (under your partner’s name or not in the MLS).

If a list of additional transactions is not included with your application, only those transactions under your name in the Flex Residential Sales Production report will count. Check this report for accuracy after each closing within 5 days; do not wait until year end.

Incomplete or inaccurate applications risk being rejected.

Individuals or teams falsifying their production numbers or # of people contributing to their volume/units or their education hours will be charged with a violation of the Code of Ethics.

Congratulations to the 2016 Realtors of Distinction!

Check out photos from the event here and the ad that ran in the Post and Courier here. View and download the full PDF below.

Join us for a hot topic lunch and learn with SCR Senior VP and General Counsel, Byron King. We will review the proper protocol and process for promoting a Coming Soon listing, and what you need to know to keep yourself out of legal trouble.

Lunch generously provided by our partner, Nexton.

THIS EVENT IS SOLD OUT
To be added to the waiting list, please email Meghan.